Grieg share price skyrockets after sale talks

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EUR 73 million added.

Just after midnight, Grieg Seafood issued a stock exchange announcement confirming ongoing talks to sell its subsidiary Grieg Seafood Hjaltland, which has been held for sale since 2016.

The sale talks are being well received on Oslo Stock Exchange.

The salmon farmers’ share price climbed by 8.6 per-cent in the first half-hour of trading on Tuesday morning. This means an increase in value of EUR 73 million.

According to Undercurrent News, the Lerøy and SalMar 50/50-owned Scottish Sea Farms is said to have submitted a bid of EUR 207 million for ownership of Grieg Seafood Hjaltland.

Grieg Seafood Hjaltland, Grieg’s struggling business in Shetland, book value is EUR 145 million on the company’s balance sheet.

This means that a sale at the projected price could result in a gain of EUR 60 million.